Risk breakdown structure for a project , Project Management

Risk Breakdown Structure for a Project 

Risk Breakdown Structure (RBS) is a hierarchical list of risks, which standardises the department's personnel resources that help in planning and controlling the project work. It also helps to identify and manage the project risks. 

In a project, which has more number of risks, you can define different risk breakdown structures for each separate task. Each risk is differentiated by its time of occurrence, chance of occurrence and outcome. This kind of project also has a number of risk templates, which are the standard set of risk breakdown structures that allow you to easily add risks to the projects. These kinds of templates are always included in the projects with more number of risks. You can also create your own template and use it in your project. The total resources make the Level 1 in the hierarchies, and each subsequent level makes sub-level of the resource category. Each lower level represents a detailed description of the resource, which helps plan, monitor and control the work.

Each project has its Risk Breakdown Structure (RBS). The RBS benefits the people engaged in risk identification process by reminding them of the possible risk areas to think about. It provides an input to Qualitative Risk. 

The Figure is the Risk Breakdown Structure for a generic project which explains each level with examples.  

934_Risk breakdown structure.png

Figure : Risk Breakdown Structure for Generic Project 

Analysis of each risk can be done whereby impacts are assigned as numeric or as High, Medium and Low. Risks are then prioritised according to the affects it causes in the Project's success.  

Posted Date: 9/24/2012 8:49:23 AM | Location : United States







Related Discussions:- Risk breakdown structure for a project , Assignment Help, Ask Question on Risk breakdown structure for a project , Get Answer, Expert's Help, Risk breakdown structure for a project Discussions

Write discussion on Risk breakdown structure for a project
Your posts are moderated
Related Questions
1. Inventory  and Stores Control : Inventory  control is  a systematic procedure  for  ensuring  the  availability  of items necessary to meet the  production  requirements  at o

summarise the argument for such a policy of partnering with a major supplier such as BAA and MACE HAVE DON HERE

To develop a new product from the given product ingredient. • explore new ideas for product development, • understand the concept of development of a process, • gain kno

Question 1: "One of the main challenges of hotel management today is the rapid changes in customer requirements, trends and tastes, resulting in the necessity for frequent exte

Question 1: (a) ISO 9000:2008 specifies the requirements for a Quality Management System. The standard is based on eight quality management principles upon which to develop an

You are creating a customer database for the Winston-Salem Warthogs

Processes by Market Orientation Processes can  also be categorized on the basis  of four  marker orientations: Make to Stock (MTS): the goods usually are standard mat

C ontrol charts Control  charts  are  tools  used  for  monitoring,  controlling  and  improving processes over time. These are applicable to administrative processes.

Define the conformance management systems. Conformance management systems: Makes sure the output of the project for example the end product or result gathers the customer

When someone says project management tool, the first thing that comes to mind is Microsoft Project. Microsoft Project is just one of the many tools available to and required by p